Polish Orange unit says further writedowns unlikely in 2017-2018

Reuters Staff

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WARSAW, Feb 14 (Reuters) - Orange Polska, a Polish unit of France’s Orange, is unlikely to book further impairment loss in 2017 and 2018, the company’s chief financial officer Maciej Nowohonski said on Tuesday.

* Shares in Orange Polska slumped on Tuesday after the company said it booked an unexpected net loss for 2016 on the back of impairment loss and said it would not pay out dividend for 2016.

* “I do not expect any further impairment neither in a year nor in two years time, unless something unexpected we do not know about happens,” Nowohonski told a news conference.

* The CFO also said that a return to dividend payouts will depend on investment in fibre in coming years.